Shanghai (ZXZC)- NIO said on March 5 it will issue and sell convertible notes in an aggregate principal amount of US$235 million to several unaffiliated Asia-based investment funds  through private placements.

Along with the similar transactions announced on Feb. 6 and Feb. 14, the combined amount claimed so far in 2020 will reach US$435 million once fully completed.

The EV startup said the closing of the newly-unveiled private placements are expected to occur on or prior to March 11, 2020.

The news about NIO's financing moves have been frenquently heard recently. On Feb. 6, the high-profile startup announced that it had entered into definitive transaction documents with an unaffiliated Asia-based investment fund (the Purchaser), pursuant to which NIO would issue and sell convertible notes in an aggregate principal amount of US$70 million to the Purchaser through a private placement. The closing of this placement was expected to occur on or around February 10, 2020.

Meanwhile, NIO also disclosed it had already consummated another convertible notes private placement in January 2020 to another unaffiliated Asia based investment fund on similar terms. Thus, the total principal amount reached US$100 million as of Feb. 6.

On the Valentine's Day, the company for the second time announced a private placement of covertible notes with the value equal to US$100 million.

Moreover, NIO also caught the eye of the entire auto industry through a collaboration framework agreement with Hefei municipal government and the decision to launch its China headquarters there.

“Under the framework agreement, Hefei government expects to provide resources and funding support for the long-term growth of NIO in Hefei, and NIO plans to establish NIO China headquarters, further expand its operations and deepen its relationship with local ecosystem partners in Hefei,” the startup announced. Reportedly, the local government plans to plow over RMB 10 billion for NIO China to conduct R&D and operation business, and construct marketing system.